What is Blockchain Gamification and How it Impacts Branding 2p21f Explained

It lets Web3 brands connect with newer generations of customers. 2w2z1o

Written by Siddharth Suvarna | Updated: 15 October 2024 18:17 IST

What is Blockchain Gamification and How it Impacts Branding: Explained

Photo Credit: Pixabay 3u334z

Gamifying Web3 protocols risks promoting gaming addiction

Highlights

NFTs can play key role in gamification of Web3 platforms
Crypto rewards contribute to the gamification of Web3 platforms
These games can, however, distract s from the platform’s utility

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The Web3 sector is teeming with thousands of products and services striving to engage a new generation of tech-savvy consumers, and blockchain gamification is one effective approach. This process involves incorporating interactive gaming elements to make non-gaming activities more engaging and immersive for s. The blockchain component enhances this concept by integrating Web3 elements, such as digital avatars and non-fungible tokens (NFTs), into metaverse-based gaming ecosystems.

When a Web3 brand – that already has a blockchain network serving as its underlaying tech -- decides to deploy blockchain gamification techniques, it introduces a special array of features. These include brand-centric games and rewards from subsequent gaming competitions.

What Blockchain Gamification Entails 41w5s

NFT brand Axie Infinity and mobile-friendly Web3 browser Fulldive are among brands that have incorporated blockchain gamification in their operations. Both platforms introduced versions of utility NFTs, VR games, and crypto points to have s spend more time on their platforms.

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Through this process, brands can associate a storytelling narrative to their platforms and services. This can further help brands act as a hotspot for social interaction for its community , marketing platform Smartico.ai explained in a blog post.

As part of the experiments with gamification, brands can implement rewards for using specific features and allow in-app trading of these NFT-like rewards. Several platforms are adding blockchain gamification to their operations in order to onboard old s and to keep things interesting for the newer ones.

Web3 gaming /gamification is definitely inevitable. Tried out my luck on the lucky spin of the @Mint_Blockchain forest campaign. Love the way they incorporated gaming in their airdrop campaign and i foresee it probably becoming the norm in other projects.https://t.co/GaL6e3P6vG pic.twitter.com/G5GiIm6iCI
— ayo (@ayoreverend) October 13, 2024

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Learn more: https://t.co/XZiCdVD7hW @zert_com #BlockchainRewards #Decentralized #Gamification #RewardSystems
— Ann Ifeoma (@AnnAsogwa67972) October 14, 2024

Excited to announce that @VFIN_Exchange is redefining crypto trading! With low fees, top-tier security, and innovative features like gamification and Metaverse integration.

:globe_with_meridians: Ready for the future of finance? Check it out: https://t.co/85ItKH0ySX #Crypto #Blockchain #Web3 #VFIN pic.twitter.com/lRPafAlGsV
— OBO NG (@bongzzy_kings) October 14, 2024

Risks of Blockchain Gamification 215m39

Gamifying Web3 protocols always runs the risk of catering to or introducing gaming addictions. For the others, if designed and executed improperly, gamification could leave the s distracted from the utility of the platforms.

As explained by an Investopedia blog, gamification of web3 products and services “takes advantage of the same human psychology that causes people to enjoy winning at games and to dislike or even fear losing”.

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The thrill to win the games integrated with their brands may manipulate people into engaging with a platform – where they could be at risk of facing crypto-linked financial losses.

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Further reading: Web3

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More